Let’s face it having a Bad Credit is something like a death sentence in the US. It’s sad but it’s a reality here. I had friends who came here years ahead of me who told me that building a good credit history is a must if one wants to survive here. I didn’t quite believe them honestly, until I got here. On my first year here, my husband started convincing me to have a credit card so I can have a credit history but I stood my ground and refused. But when I learned that a lack of [good] credit history may cost us our dream of having our house built, I had to give in. My husband is pretty much the one who is monitoring our credit. He has to since I know nothing about it. He runs our credit report regularly and he makes it a point to file a Credit Report Dispute if he sees any discrepancy. So far, everything is going good with both our credit. Thanks to him, of course.
His sister is a different story though. Her credit was a mess. Sadly, her not so great credit history was one of the reasons why they lost their house late last year. I guess they didn’t realize that her ‘not so stellar’ credit score would actually have a great impact to the different banks they approached to refinance their house when they needed to. I wonder why they didn't seek the help of companies which job is to Fix Credit before trying to refinance their house. If only they did that, their chance of saving their family home would probably be a lot better. It was sad to see their house to go into foreclosure because it was a family effort to build it. Her husband did most of the work with the little help from my husband and other relatives. So when they lost the house, it was like losing a piece of each and everyone of them. There was not much we could do but learn from their mistake. Hopefully, my sister in law also learned her lesson.